UNIVEST FINANCIAL Corp Lowers Stock Position in Synopsys, Inc. (NASDAQ:SNPS)

UNIVEST FINANCIAL Corp lowered its position in Synopsys, Inc. (NASDAQ:SNPS) by 0.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,712 shares of the semiconductor company’s stock after selling 25 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Synopsys were worth $2,772,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Kieckhefer Group LLC acquired a new stake in Synopsys during the 4th quarter worth approximately $27,000. Whipplewood Advisors LLC purchased a new position in shares of Synopsys in the 4th quarter valued at $33,000. Sierra Ocean LLC acquired a new position in shares of Synopsys during the 4th quarter valued at $39,000. Newbridge Financial Services Group Inc. purchased a new stake in Synopsys during the 4th quarter worth $51,000. Finally, Versant Capital Management Inc increased its holdings in Synopsys by 109.3% in the 4th quarter. Versant Capital Management Inc now owns 113 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.

Insider Transactions at Synopsys

In other Synopsys news, CRO Richard S. Mahoney sold 20,838 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $506.01, for a total transaction of $10,544,236.38. Following the sale, the executive now directly owns 1,460 shares in the company, valued at approximately $738,774.60. The trade was a 93.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Geus Aart De sold 15,705 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $444.42, for a total transaction of $6,979,616.10. Following the transaction, the insider now owns 116,671 shares in the company, valued at $51,850,925.82. This represents a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,909 shares of company stock worth $22,794,835. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SNPS. Needham & Company LLC reaffirmed a “buy” rating and issued a $650.00 target price on shares of Synopsys in a research report on Thursday, February 27th. Morgan Stanley lowered their price objective on shares of Synopsys from $625.00 to $590.00 and set an “overweight” rating for the company in a research report on Monday, February 24th. Wells Fargo & Company reduced their target price on shares of Synopsys from $540.00 to $520.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 27th. Piper Sandler lowered their price target on shares of Synopsys from $655.00 to $653.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $660.00 price objective on shares of Synopsys in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $638.58.

Synopsys Price Performance

Shares of SNPS opened at $457.23 on Wednesday. The company has a market cap of $70.70 billion, a P/E ratio of 31.49, a PEG ratio of 3.23 and a beta of 1.16. Synopsys, Inc. has a 12 month low of $425.73 and a 12 month high of $624.80. The stock has a fifty day moving average price of $489.94 and a 200 day moving average price of $506.26.

About Synopsys

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.